Title Loans Zanesville
Are you wondering how you’re going to pay some upcoming bills that you haven’t managed to budget for? Everyone is in this position at some point in their lives. Fortunately, there is a helpful financial resource available to you even if you have poor credit or are currently out of the job.
A title loan is a short term financing option that is perfect for those who don’t have access to traditional loans because of credit or employment issues. With this type of loan, the borrower’s vehicle is used as collateral.
Title loans Zanesville: The basics
At Midwest Title Lender, we offer clients a superior loan service that boast an extremely fast and straightforward application and approval process.
The first step is to tell us a little bit about yourself and your vehicle in our application. We have to know what make and model your vehicle is. We also need to know how many miles your vehicle has on it.
After we receive an application, we get back with a response quickly. If this response includes a loan offer, we let the applicant know about all the details on the loan being offered like the interest rate and the amount the loan will be for.
Then, the applicant can agree to the loan terms and send us the title so we can disburse loan funds. The final step is repayment of the loan.
What applicants for title loans Zanesville should know about Ohio state regulations
Laws in every state regulate the financial industry. In many states, there are laws that are unique to title loans. Title loans Zanesville must adhere to certain laws that stipulate the amount title loans can be written for and the maximum interest rate that can be applied to title loans.
The maximum auto title loans in Ohio can be $800 in amount. No title loan can be offered in the state for more than this amount. Furthermore, the maximum interest rate on a title loan in the state of Ohio cannot be any more than 28 percent.
These limits are good for consumers. When it comes to the limit on the title loan amount, this benefits consumers because borrowing too much at a time can make a debt cycle more probable. A smaller loan can be paid back more quickly and budgeted for more easily.
A cap on the interest rate obviously benefits consumers because it cuts down on how much interest they need to pay to get financing.
How title loans in Zanesville can benefit Ohio consumers
Midwest title loans feature some great benefits that Ohio consumers should take advantage of. Title loans in Columbus and throughout the entire state of Ohio from Midwest Title Lender offer all of the following beneficial characteristics:
- Title loans don’t require a high credit score- A low credit score is no longer a barrier to a convenient loan when you need one. Even a person with a very low credit score can be approved.
- Title loans don’t require employment- Unemployed individuals are frequently approved.
- Title loans don’t require the borrower to give up use of his or her vehicle- Borrowers get full use of their vehicle throughout the life of the loan.
- Title loans don’t take a lot of time to apply for- An applicant can fill out and submit our application in just a few minutes.
- Title loans are not outrageously unaffordable- Get a quote for title loan from us and you’ll see just how affordable this unique financial product can be.